Score for this quiz: 50 out of 50Submitted Dec 4 at 9:55amThis attempt took 28 minutes.Question 15 / 5 ptsEach of the following are physical factors affecting depreciation except:casualties.decay.Correct!obsolescence.wear and tear.Question 25 / 5 ptsMcDonald Company acquired machinery on January 1, 2012 which it depreciated underthe straight-line method with an estimated life of fifteen years and no salvage value. On January 1, 2017, McDonald estimated that the remaining life of this machinery was six years with no salvage value. How should this change be accounted for by McDonald?As a prior period adjustmentAs the cumulative effect of a change in accounting principle in 2017

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Correct!By setting future annual depreciation equal to one-sixth of the book value on January 1, 2017By continuing to depreciate the machinery over the original fifteen year lifeQuestion 35 / 5 ptsHart Corporation owns machinery with a book value of $570,000. It is estimated that the

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